MIRA
INFORM REPORT
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Report No. : |
347014 |
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Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
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Name : |
WUHAN SINO JOINSUN TECHNOLOGY & TRADE
CO., LTD. |
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Registered Office : |
Room 1905-1906, Building 9, Guanggu Headquarters International, No. 62
Guanggu Avenue, East Lake High-Tech Development Zone, |
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Country : |
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Date of Incorporation : |
15.04.2014 |
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Com. Reg. No.: |
420100000404255 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling capsule printing machines, capsule sorting machines, machinery
parts, packaging materials, textile fabrics, pharmaceutical adjuvant,
chemical raw materials and products; goods and technology importing and
exporting, agent importing and exporting (except goods and technology
prohibited by the State) (with permit if needed) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US for the first time in modern history. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.
Several factors are converging to slow China's growth, including debt overhang from its credit-fueled stimulus program, industrial overcapacity, inefficient allocation of capital by state-owned banks, and the slow recovery of China's trading partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated at the Communist Party's "Third Plenum" meeting in November 2013, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent in the future on fixed investments, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China also implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company name & address
WUHAN SINO JOINSUN TECHNOLOGY & TRADE CO., LTD.
room 1905-1906, building 9, Guanggu
Headquarters International,
No. 62 Guanggu Avenue, East Lake High-Tech
DEVELOPMENT Zone,
wuhan city, hubei province, 430000 PR CHINA
TEL: 86 (0) 27-87635568/13510799676
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 15, 2014
REGISTRATION NO. :
420100000404255
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : ZHANG QIONG (LEGAL REPRESENTATIVE)
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3537 = USD 1
Adopted abbreviations:
ANS - amount not stated NS
- not stated SC - subject company (the
company inquired by you)
NA - not available CNY
- China Yuan Renminbi
SC was registered as a limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on April 15, 2014.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes selling capsule printing
machines, capsule sorting machines, machinery parts, packaging
materials, textile fabrics, pharmaceutical adjuvant, chemical raw materials and
products; goods and technology importing and exporting, agent importing and
exporting (except goods and technology prohibited by the State) (with permit if
needed)
SC is mainly engaged in selling capsule printing
machines, capsule sorting machines and other related products.
Zhang Qiong is legal representative of SC at present.
SC’s management declined to disclose its employee information.
SC is currently operating at the above stated address, and this address
houses its operating office in the development zone of Wuhan. The detailed
information of the premise is unspecified.
SC is not known to have its own website at present.
Email: joan@sinojoinsun.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization code: 303348274
There is no litigation record of SC for the past two years.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wuhan Keyihua S&T Co., Ltd. 80
Zhang Qiong 20
Wuhan Keyihua S&T Co., Ltd.
=============================
Registration number: 422302000014018
Legal representative: Huang Wenhua
Incorporation date: July 28, 2006
Website: http://www.whkyh.com/
Legal
Representative, executive director and general manager:
Zhang Qiong is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in
SC as legal representative, executive director and general manager.
Also working in Wuhan Haijiya Biology & Science Co., Ltd. as legal
representative, executive director and general manager.
Supervisor:
Huang Yaohua
SC is mainly engaged in selling capsule printing machines, capsule sorting
machines and other related products.
SC’s products mainly include capsule printing machines, capsule sorting
machines.
SC sources its materials from domestic market and overseas market. SC
sells its products in domestic market and overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC refused to release its major clients and suppliers.
Wuhan Haijiya Biology & Science Co., Ltd. (literal
translation)
================================
Registration number: 420100000440672
Legal representative: Zhang
Qiong
Incorporation date: September 26, 2014
Hubei Humanwell Pharmaceutical Excipients Co., Ltd.
==============================
Registration number: 422302000002861
Legal representative: Huang Jianhua
Incorporation date: January 4, 2005
Website: http://www.khjn.com/
Overall payment appraisal: ( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment and our
debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
N/A
SC’s management declined to disclose its financial information.
SC has a short development history. Due
to lack of financial statements, we are unable to determine the maximum credit limit
for SC. After our research and based on the information obtained.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.15 |
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1 |
Rs.99.36 |
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Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
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Analysis Done by
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KIN |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.